How to Invest in Cost Effective Upskilling

Posted May 31, 2016

Upskilling your workforce is a long term investment that improves your business in a number of ways. The most notable benefits are boosted morale, higher valued work and a more adept and versatile workforce. Training can be costly though however it doesn’t have to be the financial drain that many employers fear it to be. Here are some of the most effective training methods that won’t impact your funds too much.

Online courses

Some online training courses are free, while others may cost money but require no additional expenses. The only requirement to embark on an online course is an internet connection, which is paltry compared to the costs incurred from travel and accommodation for face-to-face courses. Employees still gain essential knowledge and training; it’s just in a different format. Some virtual lectures and seminars offer almost the same experience as live attendance.

Mentoring

This method of upskilling is completely free. Taking on a junior employee as a mentee is a big commitment, but it can be the best way to teach someone. Your experience is one of your most valuable assets, so joining a mentoring programme, or just committing spare time to enriching a junior employee’s skillset, is one of the most effective ways to help someone grow in a hands-on way. Decision-making, problem-solving, critical thinking and other essential skills can be learnt and honed via mentoring.

Government- and private-supported

For employees who want to engage in more costly training, it can be subsidised with government funding. The Skills Funding Agency supplies businesses with funds to upskill their employees every year. If an employee wants to embark on a more intensive form of training, such as a BA or a MA, there are many bursaries and grants available that can be attained with your guidance and support.

Encourage education

Training doesn’t always have to be a formal process. To be the best in any field, learning should never stagnate. Fostering an environment of education will help your staff take education into their own hands outside and inside of work. Continual learning is the only way to stay current and relevant, so positive reinforcement can help with this. Aside from providing upskilling in its various forms, you can hold meetings and seminars promoting self-education. Incentives for learning targets can also encourage further studying.

No matter the sector, it’s training that differentiates a successful company from a floundering one. Keeping your staff fully trained and current is essential to business success. If you don’t feel like you have the funds for some types of training courses, there are always options that are affordable. Motivating your employees to keep educating themselves is important both for the technical skills gained by it and for the productivity and morale that follows as a natural by-product.